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ORACLE/I-FLEX UNVEIL FLEXCUBE FOR COREBANKING ON IBM SYSTEM Z.

Oracle and i-flex solutions have unveiled i-flex's FLEXCUBE for Corebanking on the IBM System z mainframe, running on Linux with the Oracle infrastructure software stack -- including Oracle(R) Database and Oracle Application Server. By supporting IBM System z mainframe, Oracle and i-flex provide banks, running critical core business applications on the mainframe, new flexibility to take advantage of industry- leading i-flex and Oracle technology.

This offering, which delivers the enhanced reliability, agility and security that the banking industry requires, builds on the October 2006 Oracle, i-flex and IBM announcement of an agreement to provide joint banking customers with cohesive infrastructure, services and support for enterprise applications, core banking and risk management. Expanding on customer options, FLEXCUBE for Corebanking is also compatible with IBM System z mainframe operating systems.

"Financial institutions are balancing requirements to control global costs while enhancing responsiveness to rapidly capitalize on new growth opportunities," said Rajesh Hukku, senior vice president and general manager, Oracle Financial Services Global Business Unit and Chairman at i-flex solutions. "Oracle's increased leverage of the i-flex core banking applications to provide support for zLinux reflects the company's commitment to provide financial services companies with applications and additional mainframe options that help accelerate development of new products and services while and enhancing the value of existing systems."

About i-flex solutions

i-flex(R) solutions (Reuters: IFLX.BO and IFLX.NS), majority owned by Oracle, is a world leader in providing IT solutions to the financial services industry, with more than 750 customers in over 125 countries. Its range of applications software, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk.

For more information, call 646/619-5339 or visit http://www.iflexsolutions.com.

About Oracle

Oracle (NASDAQ:ORCL) is the world's largest enterprise software company. For more information, visit http://www.oracle.com or call 650/506-8920.
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Publication:Mainframe Computing
Date:Aug 1, 2007
Words:315
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